Reinhard Stary resigns as CEO Oranta

With effect from June 30th 2011 Reinhard Stary has decided to step down as CEO and Chairman of the Management Board of Oranta. This is a joint decision of Reinhard Stary and Eureko based on different views on the strategy going forward.

Eureko remains fully committed to Russia as one of the three core markets for future growth of the Eureko Group. On behalf of Eureko, Piotr Kowalczewski, the Deputy Chairman of the Board of Directors, will continue to supervise Oranta.

Eureko is grateful for Reinhard's contribution and efforts to the development of Oranta and the Eureko Executive Board would like to wish Reinhard every success in his future career.